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Themes of Microeconomics
?? As per Mick Jagger & the Rolling Stones, “You can’t always get what you want”.
Why Not?
?? Restricted Resources
?? Infinite Wants
?? Allotment of limited Resources and Trade-offs
?? In a market economy
?? In a planned economy
?? Microeconomics and Optimal Trade-offs
1. Consumer Theory
2. Workers or labours
3. Theory of the Firm
?? Microeconomics and Prices
– The function of cost in a market economy
– How prices are calculated
Microeconomics vs. Macroeconomics
Microeconomics is the basis of macroeconomic analysis.
International Comparisons Method In the 1960s, a few developing countries of the world looked around the developed world in search of models of development. For instance, Sout
identify any four other law of demand and give examples
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
what is the type of the firms
Question (a) Describe clearly the three concepts of elasticity of demand. Use appropriate examples and diagrams to support your answer. (b) Consider you have been appointed
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
Fiscal Imbalance: The persistent rise in resource gap has led to a growing volume of public debt. The central feature that emerges is a serious fiscal imbalance, arising from
Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
Given the cost function as C=0.3Q3 -2Q2 + 13Q + 25, find the supply function.uestion..
#i need more light about it..
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